The PCAOB adopted two attestation standards relating to auditors’ examinations and reviews of broker-dealer compliance and examination reports and adopted an auditing standard for the audits of supplemental information that
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PCAOB Enforcement
PCAOB NOW GIVES CREDIT FOR COOPERATION
By Fox Rothschild on
The PCAOB issued a policy statement regarding its enforcement investigations, in that it will consider extraordinary cooperation, including voluntary and timely self-reporting, remedial or corrective action, and providing substantial assistance…
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PCAOB OPENING UP? MAYBE
By Fox Rothschild on
Two Senators introduced a bill that would make disciplinary proceedings of the Public Company Accounting Oversight Board open to the public.
According to the lawmakers, the Sarbanes-Oxley Act of 2002…
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Auditors And Accountants Need To Be Skeptical in Their Reviews
By Fox Rothschild on
In early December, the PCAOB issued a release indicating that accounting and auditing professionals need to be skeptical regarding their work.
The PCAOB is suggesting that professionals in the accounting and…
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How Do Accountants Look in Prison Stripes? You Do Not Want to Find Out
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Accountants beware – prison lurks.
Recently, a certified public accountant and auditor was sentenced to 54 months in prison for his role in a nearly half-billion dollar investment scam that impacted…
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Non-US Auditors Are Being Scrutinized by SEC
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The SEC is extremely concerned about foreign auditors.
In particular, the SEC is worried that those who work in certain European countries and in China are not subject to auditor…
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Auditors Are Subject to SEC Action
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We have repeatedly stated that auditors are significant players in today’s securities industry. No other than the SEC has made this point on numerous occasions. Recently, the SEC brought this
Sarbanes-Oxley Redux
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We have not talked about the Sarbanes-Oxley Act in sometime, so let’s jump right in!!
Interestingly, over the last 10 years since Sarbanes-Oxley became effective, audit costs for public and…
Jobs Act Emerging Growth Status Disclosure
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The SEC’s Chief Accountant announced that a number of companies may be unaware they fall under the disclosure requirement for Emerging Growth Company status under the JOBS Act.
As a result…
Auditors Beware!!! SEC Is on the Prowl
By Fox Rothschild on
The SEC Enforcement Division’s chief accountant has gone on record as saying that, in every SEC accounting case, the SEC Staff reviews auditor conduct.
The chief accountant stated that the SEC Staff…